Sales is probably one of the most difficult professions to enter, and it is also one of the areas in which many entrepreneurs struggle the most. Knowing how to close deals is both an art and a science. In this article we explore different types of sales close as well as effective tips to close more sales.
What does it mean to close a deal?
Closing a deal refers to reaching an agreement with a prospective buyer or another party by bringing negotiations to an end and reaching an agreement.
Only a small percentage of prospects will close on their own, so the role of the salesperson is key. This might be unsettling especially for new salespeople because it exposes them to the possibility of the prospect’s rejection.
However, closing a deal doesn’t always have to be daunting. If the salesperson has done well in the early parts of the sales process, closing the deal will be quite straightforward. It may be as simple as telling the prospect, « Sign here to make it yours, » and offering them a pen and a contract.
What are 4 effective types of sales closes?
All that time spent doing the legwork, researching prospects, creating reports, and understanding a prospect’s specific requirements culminates to one thing: the sales close. The goal is to close sales, and if you are skilled at it, you will be highly successful.
Closing sales necessitates putting in the effort. You must be prepared for a variety of scenarios that may arise, including resistance and objections which is why conducting research is critical.
Sales agents must learn as much as they can about their clients, their businesses, their wants, difficulties, interests, and current solutions. Doing your investigation will assist you in identifying excellent solutions and analyzing variables that may prohibit or delay closing.
Here are some sales closing techniques that will elevate your game:
The assumptive sales close
A sales approach known as the assumptive close is sometimes leveraged by salespeople to close a deal. The salesperson assumes the prospect has already decided to buy and closes the deal by asking a question similar to, « When should we start implementing? »
Many people think of assumptive selling as aggressive or manipulative, but if used properly and in the right context it can yield impressive results. If you genuinely believe the customer is ready to buy and you’ve overcome all his/her objections then this is a good technique to use. However, if you’re not certain in your prediction that they’ll buy, you risk scaring away a potential customer.
The option sales close
The option close is a common sales closing technique that consists of giving the prospect the option to choose between two products you offer. It’s a good way to ease the prospect into the closing phase without overstepping your boundary. When using this technique, it’s best to stick to just two options as offering more could easily confuse the client.
By leveraging the option close, you allow the prospect to make his/her own decision while removing his/her fallback response of « No, thanks ». For example, if a prospect wants to purchase moving boxes because she is selling her house, you may ask her, would the moving kit or the bundle of little boxes work better for you?. You’ve offered the prospect two options and “let me think about it” isn’t a possible answer.
The suggestion sales close
When you use the suggestion close strategy, you make sales recommendations to a prospect based on what you’ve learned about their requirements. It gives them a logical and realistic beginning point, allowing you to begin the purchasing process.
Prospects who are unfamiliar with the type of product or service being offered (or lack confidence in their understanding) are ideal candidates for the suggestion close tactic. When your prospect asks a lot of questions about the product, such as how it works and how it may benefit them, use the recommendation close.
These inquiries usually indicate that your prospect is interested in the product but is unsure where to start (i.e., which plan to purchase, what quantity to buy, etc.). Provide the prospect with the information needed to make a purchase. At the end of your responses to their inquiries, make specific recommendations.
Let’s imagine a consumer asks, what do the majority of people use your product for? You might use this response to bring a suggestion to a close. An answer like, “our product is well-liked by customers as a scheduling tool. It allows them to stay focused and structured throughout the day. I recommend our gold package based on your business and the number of appointments you have every day’’ will help you close the deal.
The urgency sales close
The urgency sales close strategy consists of pitching your products or services at a reduced, limited-time price. It leverages the fear of missing out (FOMO) as a motivator for buying. The majority of consumers are constantly on the search for the finest discounts and rates, and no one wants to miss out on a good deal.
Studies have shown that the concept of a sale or discount has a significant impact on purchasing behavior. In fact, according to a survey, 67 % of consumers indicated they purchased a product they didn’t intend to buy because they spotted a coupon or discount (source).
When you’re up against a bargain shopper, use the urgent close sales tactic. Let’s imagine you’re speaking with a prospect who is committed to purchasing a CRM within the next two weeks. They haven’t made a decision yet because they want to make sure they’re getting the greatest offer possible.
In this case, your urgency close strategy might be to give your prospect additional app integrations for free if they buy today. The thought of receiving extra features for free that other customers must pay for may be enough to entice them to buy from you right away.
If your prospect expresses pricing concerns, that’s your cue to use the urgent close. Remember not to be overly pushy otherwise you risk alienating your potential client.
Here are two samples of what you could say to emphasize the time-limited sales offer you’re making:
- “I can offer you a special promotional deal on the product, but it’s only good until the end of today.”
- “I can’t guarantee the price will ever be this low again if you don’t buy today.”
Make sure whatever deal or discount you’re offering is appealing enough to persuade your prospect to buy. Your bargain shopper prospect has most likely already done their homework. To make sure that your pitch is effective, make sure you are informed of the types of bargains your competitors are offering.
Best tips to close more sales
Identify the decision-maker and start a conversation
Qualifying the prospect entails asking the right questions and gathering relevant information. The quality of information you obtain from your prospect is critical in assisting them in making a purchasing decision.
You also need to speak with the proper person (the decision-maker) to efficiently obtain the relevant information. For example, if you’re selling a product for content marketers and know that the ultimate decision-maker of a specific business is the head of content marketing or the director of marketing, it’s pointless to spend time talking to an entry-level marketer, copywriter, assistant, or someone from a different team.
Pitch a solution, not a product
Great salespeople go beyond knowing the product to fully grasp all of the ways it will benefit their prospect’s business and daily lives. Never forget that your prospects are interested in real-world outcomes and how your product will help them solve an issue they’re facing. Therefore selling revolves around providing a solution to a prospect’s need or issue.
You must keep up with new technology and thought processes. In countries like Canada or the United States, 75 % (or more) of adults own a smartphone.
How vital is it to make use of technology?
- 51% of people will discover a new product or business via their smartphone. As such, make your SaaS offerings mobile-friendly and create a custom mobile app.
- Users spend 80% of their time on social media on their mobile devices.
- By implementing online business management strategies, 65% of sales agents were able to meet their quotas.
- Brokers can also benefit from top-tier mobile app development services.
Offer your prospect something time-sensitive and something they genuinely want to entice them to sign with you sooner rather than later. This could be a discount on your service, something for free, or anything else that reduces the bottom line or commitment level. This gives them the impression that they have the upper hand and that they stand to lose if they refuse.
What is UI and UX design?
- UI design is all about developing intuitive, aesthetically beautiful, interactive interfaces, while UX design focuses on recognizing and solving user problems.
- The user experience (UX) is usually the initial step in the product development process, followed by the user interface (UI). The user journey is mapped out by the UX designer, who then works hand in hand with the UI designer to add visual elements and interactive features by the UI designer.
- UX can be applied to any product, service, or experience, whereas UI is only applicable to digital products and experiences.
Imagine you’ve come up with a brilliant app concept, something that’s not currently available in the market and has the potential to transform people’s lives. You hire a UX designer to do user research and assist you in determining which features your app should include and how the complete user journey should be laid out.
Your software provides something that your target audience wants, but when they download it, they discover that the text on each screen is hardly readable. Furthermore, the buttons are too close together so they keep accidentally pressing the wrong one. This is a typical example of poor user interface ruining a good UX.
A good use of UI and UX Design will improve the prospect’s interaction with our brand and ultimately help you increase your sales.
Want to get more leads and increase your sales volume?
If you want to seal the deal and close more sales, Leadsier offers a range of services that can help you do just that. Our team offers you a 360 approach through:
- Web development
- Mobile development
- UI/UX design
- QA & Testing
- IT Consultancy
To unlock your full potential, request a free quote!